While any potential agreement for a return to the Ricoh a long way off, CBRE is expected to release further details confirming movement of the unnamed site, and the appointment of a team of architects, highway consultants and planning consultants.

However, any sale of the Brandon site could also face problems.

HMRC said in November that the Brandon Stadium was a frozen asset and could not be sold following the conviction for money laundering by gambler Jatinder Singh Batth – also known as Micky Singh – who it claims owns half of the £1million venue.

However, Avtar Sandhu insists he is the legal and rightful owner.

Brandon’s sellers expect the HMRC issues to be resolved during a two-month “due diligence” period.

The club would hope to secure planning permission from the relevant district council in Warwickshire for the eventual site it would pick. The government could also have the final say if secretary of state Eric Pickles calls in the application, or calls a public inquiry.

The second site remains a mystery, although many fans have speculated over the former Peugeot factory site at the A45 Ryton, which is close to the Sky Blues training ground.

But Chris Hall, director of Trenport Investments, said yesterday there had been no approach by the club.

Neither has there been any club approach for Ansty Park, said Steve Holland, of the Homes and Communities Agency – the former Advantage West Midlands site which has long been earmarked for up to 10,000 advanced manufacturing jobs.